Meiji Yasuda Asset Management Co Ltd. decreased its stake in Occidental Petroleum Co. (NYSE:OXY) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,855 shares of the oil and gas producer’s stock after selling 704 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Occidental Petroleum were worth $2,175,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OXY. Pinnacle Bank purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $28,000. Sontag Advisory LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $32,000. Rational Advisors LLC increased its stake in shares of Occidental Petroleum by 83.2% during the 4th quarter. Rational Advisors LLC now owns 555 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 252 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter worth $34,000. Finally, Harvest Group Wealth Management LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter worth $34,000. Institutional investors own 81.77% of the company’s stock.

NYSE:OXY traded down $0.30 during midday trading on Wednesday, reaching $48.75. The stock had a trading volume of 3,858,028 shares, compared to its average volume of 7,843,024. Occidental Petroleum Co. has a 1-year low of $47.00 and a 1-year high of $86.60. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $35.82 billion, a PE ratio of 9.73, a PEG ratio of 2.46 and a beta of 0.86.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the business posted $0.92 EPS. Occidental Petroleum’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.12 dividend on an annualized basis and a yield of 6.40%. Occidental Petroleum’s payout ratio is presently 62.28%.

In related news, Director Eugene L. Batchelder purchased 9,100 shares of Occidental Petroleum stock in a transaction on Monday, June 10th. The stock was purchased at an average cost of $48.11 per share, with a total value of $437,801.00. Following the acquisition, the director now directly owns 45,148 shares in the company, valued at $2,172,070.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vicki A. Hollub purchased 37,460 shares of Occidental Petroleum stock in a transaction on Monday, June 10th. The stock was bought at an average cost of $48.15 per share, with a total value of $1,803,699.00. Following the completion of the acquisition, the insider now owns 248,326 shares in the company, valued at $11,956,896.90. The disclosure for this purchase can be found here. Insiders purchased a total of 56,560 shares of company stock worth $2,722,400 over the last quarter. 0.15% of the stock is currently owned by company insiders.

Several brokerages have recently commented on OXY. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Citigroup lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $80.00 to $72.00 in a research note on Tuesday, February 19th. Oppenheimer began coverage on shares of Occidental Petroleum in a research note on Wednesday, March 27th. They set a “market perform” rating on the stock. Finally, Mizuho restated a “buy” rating and set a $82.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and an average price target of $75.30.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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